Nicolet Bankshares (NYSE:NIC) PT Lowered to $88.00 at Stephens

Nicolet Bankshares (NYSE:NIC) had its target price reduced by analysts at Stephens from $92.00 to $88.00 in a report released on Thursday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Stephens’ price objective suggests a potential upside of 15.52% from the company’s previous close.

A number of other brokerages also recently issued reports on NIC. Piper Sandler reduced their price target on Nicolet Bankshares from $88.00 to $82.50 and set a “neutral” rating on the stock in a research report on Wednesday. Keefe, Bruyette & Woods increased their price target on Nicolet Bankshares from $85.00 to $86.00 and gave the stock a “market perform” rating in a research report on Thursday. Hovde Group raised Nicolet Bankshares from a “market perform” rating to an “outperform” rating in a report on Monday, March 4th. Finally, TheStreet raised Nicolet Bankshares from a “c+” rating to a “b” rating in a report on Wednesday, January 17th. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $87.88.

Nicolet Bankshares Stock Performance

Shares of NYSE NIC traded up $0.22 during trading hours on Thursday, reaching $76.18. 5,381 shares of the stock were exchanged, compared to its average volume of 38,695. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of 11.82 and a beta of 0.74. Nicolet Bankshares has a 52 week low of $51.76 and a 52 week high of $86.86. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.95 and a current ratio of 0.95. The stock’s fifty day simple moving average is $80.52 and its 200 day simple moving average is $77.66.

Nicolet Bankshares (NYSE:NIC) last issued its quarterly earnings results on Tuesday, January 16th. The company reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.73 by $0.12. The business had revenue of $89.20 million for the quarter, compared to the consensus estimate of $78.30 million. Nicolet Bankshares had a return on equity of 10.07% and a net margin of 20.60%. Sell-side analysts predict that Nicolet Bankshares will post 6.93 EPS for the current year.

Insider Buying and Selling

In related news, Director Robert Bruce Atwell sold 2,000 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $81.93, for a total transaction of $163,860.00. Following the completion of the transaction, the director now directly owns 42,889 shares of the company’s stock, valued at approximately $3,513,895.77. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Robert Bruce Atwell sold 2,000 shares of Nicolet Bankshares stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $81.93, for a total value of $163,860.00. Following the completion of the transaction, the director now directly owns 42,889 shares of the company’s stock, valued at approximately $3,513,895.77. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Eric James Witczak sold 2,053 shares of Nicolet Bankshares stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $82.45, for a total value of $169,269.85. Following the completion of the transaction, the executive vice president now directly owns 41,427 shares of the company’s stock, valued at $3,415,656.15. The disclosure for this sale can be found here. 16.40% of the stock is owned by corporate insiders.

Institutional Trading of Nicolet Bankshares

Several large investors have recently made changes to their positions in the company. BlackRock Inc. boosted its stake in Nicolet Bankshares by 3.3% during the 2nd quarter. BlackRock Inc. now owns 963,503 shares of the company’s stock valued at $65,431,000 after purchasing an additional 31,229 shares during the last quarter. Vanguard Group Inc. boosted its stake in Nicolet Bankshares by 2.6% during the 4th quarter. Vanguard Group Inc. now owns 697,725 shares of the company’s stock valued at $56,153,000 after purchasing an additional 17,539 shares during the last quarter. FMR LLC boosted its stake in Nicolet Bankshares by 54.2% during the 3rd quarter. FMR LLC now owns 556,958 shares of the company’s stock valued at $38,865,000 after purchasing an additional 195,707 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Nicolet Bankshares by 3.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 542,091 shares of the company’s stock worth $43,629,000 after buying an additional 20,299 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of Nicolet Bankshares by 4.3% in the 2nd quarter. State Street Corp now owns 336,251 shares of the company’s stock worth $22,835,000 after buying an additional 13,838 shares during the last quarter. 43.06% of the stock is currently owned by institutional investors and hedge funds.

About Nicolet Bankshares

Nicolet Bankshares, Inc operates as the bank holding company for Nicolet National Bank that provides banking products and services for businesses and individuals in Wisconsin and Michigan. The company accepts checking, savings, and money market accounts; various certificates of deposit; and individual retirement accounts.